Earnings Per Share

3 Months Ended

May 02, 2020

EARNINGS PER SHARE

In accordance with relevant accounting guidance, unvested share-based payment awards that include non-forfeitable rights to dividends, whether paid or unpaid, are considered participating securities. As a result, such awards are required to be included in the calculation of earnings per common share pursuant to the "two-class" method. For the Company, participating securities are comprised entirely of unvested restricted stock awards granted prior to fiscal 2020 and PSUs that have met their relevant performance criteria.

Earnings per share ("EPS") is determined using the two-class method when it is more dilutive than the treasury stock method. Basic EPS excludes dilution and is computed by dividing net (loss) income available to common shareholders by the weighted-average number of common shares outstanding during the period, including participating securities. Diluted EPS reflects the dilutive effect of potential common shares from non-participating securities such as stock options, PSUs and restricted stock units.

The following table sets forth the computation of net (loss) income per basic and diluted share shown on the face of the accompanying condensed consolidated statements of (loss) income:



	Thirteen Weeks Ended
	May 2, 2020			May 4, 2019
Numerator
Net (loss) income	$	(178,290	)	$	2,025
Net income and dividends declared allocated to participating securities	(358		)	—
Net (loss) income available to common shareholders	$	(178,648	)	$	2,025
Denominator
Weighted average common shares outstanding – basic	115,573,801			114,434,054
Dilutive effect of non-participating securities	—			352,641
Weighted average common and common equivalent shares outstanding – diluted	115,573,801			114,786,695
Net (loss) income per common share:
Basic	$	(1.55	)	$	0.02
Diluted	$	(1.55	)	$	0.02

For the thirteen weeks ended May 2, 2020 and May 4, 2019, 0.4 million and 0.7 million potential shares of common stock, respectively, were excluded from the diluted per share calculation relating to non-participating securities, because the effect of including these potential shares was antidilutive.